Import export licence

Import export licence

We would all love to be our own boss, wouldn’t we?  If you are planning on starting your very own business and have zeroed in on an import export business as foreign trade is a passion, wonderful. The scope that this business has is immense with the liberalization of trade deals, which are being signed in support of Indian trade. There are a few things however that need to be paid attention to and adhered with regard to this business. It is very important that an import export house or business owns an import export licence commonly called an IEC code.

 This all-important document is integral for it permits the licence holder to engage in any form of import export or foreign trade. It is mandatory that an entrepreneur or a business house procures this document without which overseas trade will be impossible. Like the name suggests an IEC or an importexport licence is a licence or a permit allowing a business house of an individual engage in foreign trade.

This enables the individual to sell goods made in their very own country on foreign shores and vice versa. Having stated all of this how does one procure an IEC. Well one can apply for an IEC by keying in, iec code online application. This will take you to a user-friendly site that helps individuals apply within the comfort of their home. Post filling of all the relevant details and information, upon submission, one will be issued the unique ten-digit code by the Director General of Foreign subject to the criterion being met.Once all of this is done a unique 10-digit code or an import export licence is issued. One must be aware that an individual can legally own only 1 import export licence and, that only 1 IEC is issued against a PAN no.  

This licence has no expiry, in other words, it is valid for a lifetime.This permit proves to be a boon for one will be able to trade on foreign shores without any hurdles. These few pointers need to be kept in mind as far as the all-important documentation an import export business is concerned. Your import export business in on the right track and will scale heights. Where there is passion there will be dedication therefore the sky is the limit for success. The very best is yours to experience as you embark onto your very own business. All the best!

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